BAKU, Azerbaijan, July 23
By Fidan Babayeva - Trend:
The export of the Azerbaijani products to Russia increased by 0.8 percent from January through June 2020, compared to the same period of 2019, Trend reports referring to the statistical bulletin of the State Customs Committee.
According to the bulletin, Azerbaijan exported worth $380.5 million of its products to Russia over the mentioned period. In the first half of 2019, the volume of the country’s export was $377.4 million. Russia’s share in Azerbaijan’s total export increased from 3.78 to 4.95 percent of the total volume.
Foreign trade operations between Azerbaijan and Russia amounted to $1.2 billion in the reporting period, which is 6.7 percent less compared to the same period of last year.
Import of products from Russia to Azerbaijan dropped by 9.9 percent, amounting to $913.9 million. The share of Russia in the total import of Azerbaijan increased from 14.31 to 18.32 percent of the total volume.
The foreign trade balance of the two countries for the reporting period was negative and amounted to $533.3 million.
In 1H2020, Azerbaijan's foreign trade turnover totaled $12.6 billion, having dropped by 34.1 percent year-on-year. The balance of foreign trade turnover on an annualized basis decreased by 10 percent and remained negative, amounting to $2.6 billion.
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